The building time for new build-to-order (BTO) flats could be reduced to 2 and a half years.
New BTO flats planned for both mature and non-mature HDB estates
The Housing Development Board (HDB) will launch 17,000 new BTO flats in both mature and non-mature estates next year. The next launch is scheduled for Tengah town, a first for the estate.
This is the third year BTO flat numbers have been kept at the 17,000 mark. 17,584 and 17,891 units were launched this and last year respectively. More BTO flats are also planned for H2, in growing estates such as Sembawang, Yishun, and Sengkang. Keeping with a systemised number of launch units will help to keep the resale HDB market moderately and prices in check.
Government to adjust releases based on demand and resale market
With prices of private properties rising over recent quarters, property analysts expect a trickle-down effect into the resale HDB market. And when prices of the latter rises too, demand for new BTO flats will increase. This would only apply for the group of buyers who meet the income threshold required to purchase a new flat directly from the authorities.
Could we perhaps expect changes from HDB next year? This year, they increased Central Provident Fund (CPF) housing grants and re-offered unsold flats to those who are in need of one. Add the contraction of the resale application process and construction time for new flats, young couples and families can now start planning for a family sooner.